
Farmer & Rancher
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The Washington State Housing Finance Commission in partnership with Northwest Farm Credit Services is offering loans for qualifying beginning farmers/ranchers that can be combined with other loans, grants and other sources of funds. The Beginning Farmer/Rancher Bond Program is a tax-exempt bond program designed to assist beginning farmers/ranchers in the state of Washington acquire agricultural property at lower interest rates.
NEWS
& HIGHLIGHTSLoans financed with proceeds of tax-exempt bonds issued by the Commission are currently available up to a maximum amount of $477,000 (including up to $250,000 for depreciable farm property and up to $62,500 for used equipment/personal property), which may be combined with other loans, grants and other sources of funds for larger projects.
Individuals or families who have not had any direct or indirect ownership
interest in farmland in the operation of which such individual materially
participated. Or, those who have owned and operated a farm or ranch that was
less than 30% of the county’s median farm size.
Median Farm Size Chart (Word)
A beginning farmer/rancher must be at least 18 years old, a Washington State resident, and must have sufficient education, training and experience in the type of farming operation for which the bond is requested.
Corporations, partnerships, limited liability companies, etc. are ineligible.
The beginning farmer/rancher(s) and/or their children must directly manage and perform the labor for the farming operation. Off-farm income is permitted. The agricultural land, agricultural improvements and depreciable farm property acquired with proceeds of the bond must be used for farming purposes during the term of the bond.
Contact Wendy Knopp at Northwest Farm Credit Services prior to sending application or if you have questions about loan terms and qualifications: (509) 340-5476 or email wendy.knopp@farm-credit.com
Please contact us if you have questions concerning initial Program eligibility:
Please contact us if you require assistance downloading this form:
04/15/2011